* This article was originally published on July 15, 2020. It has been updated for 2024.  I’m back with an update on the 2024 dirty dozen: A list from the Internal Revenue Service (IRS) of the 12 dirtiest tax scams and schemes of this year’s tax season. From having your money — or more — stolen via phishing, phone, or social media scams to engaging in abusive tax arrangements, these schemes could leave you in hot water with the IRS. In fact, they could lead to a higher chance of being audited — or even fines and criminal charges. Regina and I released a Money & Taxes from Bb to XYZ p ..read more

Some say that wealth is built with concentration and preserved by diversification. So you’ve found yourself with a concentrated stock position. A large portion of your portfolio — or maybe the whole thing — is at the whim of how a single stock performs. Perhaps you also work for the company that issued that stock. You’ve got a great career with a solid employer, but depending on it for the vast majority of your income and assets just feels too risky. What should you do about all of that stock? Let’s start with what a concentrated stock position is. How much is too much of one stock? If a sing ..read more

It’s estate planning month here at FPFoCo! Maybe we just worked together to update your beneficiaries or we got together to begin drafting your last will and testament. It could be that you completed your work with your attorney and we scanned your estate planning documents for our files. So you’re done, right? Well, I don’t consider estate planning to be done until the probate process is complete. That’s the point when the court has closed out your estate and your assets have been transferred to your beneficiaries. Just a reminder that we’re not attorneys. We don’t even play attorneys on TV ..read more

“Should we get married for financial or tax purposes?” As financial planners, we get this question a lot more often than you might think!  Although Valentine’s Day was last week, I like to think that we’ve played Cupid in a few situations. In fact, we’ve suggested to multiple long-term committed couples that they seriously consider marriage for one reason or another. And we’ve guided plenty more couples in their financial planning, whether they got married before becoming clients, wed during the course of our work together, or are planning the wedding as you read this.  Of course, ea ..read more

Tax season is officially here, and your tax forms or extensions will be due to the Internal Revenue Service (IRS) soon enough. But before you can have us prepare the forms necessary to file your taxes or extend your filing date, you’ll be receiving quite a few forms. From W-2s to 1099s, a 1095, donation receipts, and more, you might be asking yourself, “What tax forms should I expect in my email inbox or mailbox?” Here at FPFoCo, clients like you often wonder whether you’ve received all of the forms you should be expecting so you can begin your tax preparation process. Or you get started earl ..read more

Your Financial Planning Fort Collins Team is growing! We’re thrilled to announce our latest hire and welcome Financial Planning Specialist Riley Thoubboron, CFP®, to FPFoCo!  (In case you’re wondering, his last name is pronounced Thaw-burn.) That’s right! You now have a third Certified Financial Planner professional on your financial planning team! Read on and get to know Riley. Riley’s Role Within Financial Planning Fort Collins, Riley plays a crucial role in maintaining the accuracy of your financial plan. As our financial planning specialist, he begins by digging deep into your data. I ..read more

* This article was originally published on Jan. 13, 2021. It has been updated for 2024. Happy 2024! After a few turbulent years, I hope your New Year is off to a fantastic start and that 2024 will be a prosperous one for you.  Finding yourself with a little more prosperity this year, or want to set your future self up for success? It’s time to take advantage of additional capacity for tax-advantaged savings!  If you’re planning your contributions for this year, read on to learn about 2024 contribution limit increases. Plus, check out some other tax and financial planning opportuniti ..read more

Not a client yet? See if our ensemble approach is right for you. Head to our Comprehensive Services page to learn more about what we do for our clients. The post Happy New Year from FPF<span >o</span>C<span >o</span>! Our Year in Review appeared first on Financial Planning Fort Collins ..read more

* This article was originally published on Dec. 14, 2022. It has been updated for 2023. From your own holiday shopping list to your favorite public media outlets highlighting their donor gifts, ‘tis the season for giving! December is only one of the twelve months of the year but, according to Nonprofit Source, 30% of charitable giving takes place in December. That means it’s time to consider how you can strategize your philanthropic efforts before year-end. So get ready to make your charitable dollars go further and take advantage of tax deductions while you positively impact the causes you ca ..read more

‘Tis the season to be generous … but are you even just a little bit too generous this time of year? I know that I can get carried away sometimes. The holiday spirit just hits different! I get the warm fuzzies and want to make this time of year a little extra special for the people I care about in my life. This even extends to strangers when I carry some cash to drop into a red bucket, make an online donation, or take a tag from a tree at a local business so I can do a bit more guilt-free shopping. You, too, huh? We’re not alone! According to the 2023 Deloitte holiday retail survey, shoppers ar ..read more